Quick Summary
The GST Council has recommended a series of measures to speed up GST refund processing through automation, reduce manual intervention and provide greater certainty to taxpayers. The proposed reforms cover refunds of excess balance in the electronic cash ledger, refunds related to zero-rated supplies and refunds arising from an inverted duty structure. The recommendations include automatic sanction of eligible refunds, reduction in the time limit for issuing acknowledgements or deficiency memos,
Daily Limit Reached
You have reached your daily limit of 2 Free News
Subscribe to CCI PRO for unlimited access
Why Upgrade to CCI PRO?
- No Ads
- WhatsApp Community
- Daily E-Newsletter
- Unlimited News Access
- Profile Visitors
- Link Social Profiles
- Featured Job Posts
- Pro Badge
- Expert GST Guidance
- Unlimited Forum Replies
- Download Content in PDF
1 Year PLAN - Rs.1999
1799
(Excl. of GST ₹323)
2 Years PLAN - Rs.3499
3149
(Excl. of GST ₹566)
BEST VALUE
3 Years PLAN - Rs.4999
4499
(Excl. of GST ₹809)
View all CCI PRO benefits
Already a PRO member? Login here for an ad-free experience. 07941056694
FAQ :
The main goal is to speed up GST refund processing through automation, reduce manual intervention, and provide greater certainty to taxpayers.
In the first phase, 90% of eligible refund claims for zero-rated supplies and inverted duty structure cases will be sanctioned on a provisional basis automatically.
The time limit for issuing acknowledgements or deficiency memos will be reduced from 15 days to 10 days. The system will provide deemed acknowledgement if no action is taken within this period.
The refund application form (GST RFD-01) will be amended to capture details in a system-readable format, potentially eliminating the need to upload scanned documents for zero-rated supply and inverted duty structure claims.
The reforms aim to make the GST refund process faster and more transparent, reduce compliance burden, and improve cash flow for businesses awaiting eligible refunds.
No, the proposed measures aim for system-based processing and sanctioning of refunds without officer intervention, particularly for excess balance in the electronic cash ledger and provisional refunds.
CAclubindia
